Proposal for a Directive on consumer credit
A proposal for a Directive on a consumer credit has been recently issued, which repeals and replaces Directive 2008/48/EC on consumer credit agreements. The proposal takes into account the increased…
The European green bonds Regulation
Green bonds are ordinary bonds whose issuance is related to environmental sustainability projects (such as energy efficiency, pollution prevention and control, sustainable land use). The European Parliament has recently issued…
ESMA’s supervision over sustainable investment funds
ESMA has recently issued some guidelines to ensure the supervision of investment funds with sustainability features in order to contrast “greenwashing”. The provisions in question are characterised by a risk-based…
How to prove the assignment of receivables
Court of Appeal of Ancona, in accordance with other case law, has held that the proof of the title of credit must be provided by means of the assignment contract,…
Supervisory authorities’ further investigation in administrative proceedings is subject to judicial review
Deciding on an appeal against administrative sanctions imposed by Consob (the national Commission for companies and the Stock Exchange), the Supreme Court has recently ruled (see judgement no. 17673 of…
ESMA report on best execution reporting
ESMA has published a report to the European Commission on best execution supervisory reporting for investment firms under the MiFID II, in order to ensure an effective and consistent level…
European regulation on distributed ledger technology
On 2 June 2022, Regulation 2022/858/EU (the “DLT Regulation“) was published in the Official Journal of the European Union, introducing a pilot regime for market infrastructures based on distributed ledger…
Proposal for a new EU Directive on distance marketing of consumer financial services
Introduction On 11th May 2022, the EU Commission published a directive proposal (the “Proposal”)[1] amending Directive 2011/83/EU on consumer rights (the “Consumer Rights Directive”) and repealing Directive 2002/65/EC concerning the…
Italy: Lowering Non-Professional Investors’ Entry Thresholds Into Italian Alternative Investment Funds
Introduction On 30 March 2022 came into force the Decree of the Minister of Economy and Finance no. 19 of 13 January 2022 (the “Decree“), which amended Ministerial Decree no.…
On the sustainable finance disclosure obligations in the financial services sector
Introduction In its Action Plan 2018: Financing Sustainable Growth[1], the EU Commission set out goals and timing to booster the role of finance towards an economy that focuses on ESG…